Big Sales Gain for LVMH

Luxury is back in a big way. In fact, all division at LVMH posted double-digit revenue growth during the first quarter, except for perfumes and cosmetics, which saw sales rise 9%, but that was still well ahead of the industry’s average expansion of 3 to 4%. Revenues were up 28% for watches and jewelry; 20% for wines and spirits; 17% for fashion and leather goods, and 20% for selective retailing. Like-for-like sales at Sephora advanced 7% in Europe and 9% in the U.S.


All the divisions helped the company post a 17% gain in sales to 5.25 billion euros or $7.17 billion for the quarter. LVMH credited rapid growth in China and the U.S. for the increase.